Axxcess Wealth Management LLC Buys New Stake in Steel Partners Holdings L.P. (NYSE:SPLP)

Axxcess Wealth Management LLC purchased a new stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,051 shares of the conglomerate's stock, valued at approximately $330,000.

Other institutional investors have also recently made changes to their positions in the company. Teton Advisors Inc. lifted its position in Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock valued at $553,000 after purchasing an additional 500 shares during the period. Gamco Investors INC. ET AL lifted its position in Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock valued at $4,123,000 after purchasing an additional 3,300 shares during the period. Finally, HighTower Advisors LLC lifted its position in Steel Partners by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock valued at $1,149,000 after purchasing an additional 577 shares during the period. Hedge funds and other institutional investors own 50.75% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on shares of Steel Partners in a research report on Monday, May 19th. They set a "strong-buy" rating on the stock.

Insiders Place Their Bets

In other news, President Jack L. Howard acquired 29,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $24.20 per share, for a total transaction of $701,800.00. Following the transaction, the president directly owned 143,516 shares of the company's stock, valued at approximately $3,473,087.20. This trade represents a 25.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 84.80% of the company's stock.

Steel Partners Stock Performance

SPLP traded down $0.25 during trading on Thursday, hitting $39.39. The company's stock had a trading volume of 238 shares, compared to its average volume of 3,495. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. Steel Partners Holdings L.P. has a one year low of $27.00 and a one year high of $48.45. The firm has a market cap of $787.80 million, a PE ratio of 4.04 and a beta of 1.25. The business's 50 day simple moving average is $40.07 and its 200-day simple moving average is $39.90.

Steel Partners Announces Dividend

The firm also recently declared a dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 3.84%. Steel Partners's payout ratio is presently 3.32%.

Steel Partners Profile

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.